Supreme Court of India
Committee of Creditors of Amtek Auto Limited through Corporation Bank v. Dinkar T Venkatasubramanian & Ors.
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What the Court ordered
For the above reasons, our conclusions and directions are that: (i) There is no merit in the application for rectification moved by DVI. IA No. 58156 of 2020 in Civil Appeal No 6707 of 2020 shall stand dismissed; (ii) It is not expedient in the interest of justice to pursu e the contempt proceedings.
Judgment, page 29
From the headnote
Insolvency and Bankruptcy Code, 2016 – ss. 7, 12(3) and 31 – Contempt of Courts Act, 1971 – s.2(b) – On 24.09. 2019, the Supreme Court directed the Resolution Professional (R P) to invite fresh offers for resolution plans – Fresh Resolution plans were invited – The third respondent-DVI submitted financial prop osal on 04.11.2019 and was declared the highest resolution applicant – On 17.01.2020, DVI submitted its resolution plan toget her with a performance bank guarantee of INR 150 crores – DVI filed application before the Court seeking grant of a period o f two months to examine and
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